The ATO does not allow you to ‘flip’ a property tax-free even if you are living in it.
Most people think that they can move in to a property, renovate it, and then sell it without paying tax.
The main residence exemption – the exemption that protects your family home from tax – does not apply if your primary purpose is to ‘flip’ the property for a profit.
The fact that you are living in the property does not mean it’s exempt from tax.
If you’re thinking of earning a little extra cash over the holidays by participating in a ride-sourcing arrangement (think Uber driver), there are a few things you need to take care of before you hit the road.
The team at Shakespeare will be taking a short break over the Christmas and New Year period.
We’d like to take this opportunity to thank all of our valued clients and wish you all the very best for the holiday season.
Our office will be closed from 1pm Friday December 21 and will re-open at 8.30am on Monday January 7.
Happy Holidays! From the team at Shakespeare.
ASIC has issued a warning about an email scam targeting ASIC customers.
The scam emails pose as ASIC correspondence, asking victims to pay to renew their business or company name.
The emails may contain links to malware or to invoices with fake payment details.
We simply love making our clients happy! And when we get a little shout-out it really warms our hearts.
Conor and Emily entrusted us to find the perfect home loan to enable them to purchase their dream home, and we couldn’t be happier with the result.
We think they might be pretty chuffed too!
Fringe Benefit Tax (FBT) is something the ATO has been cracking down on in recent years, so it’s important to know what transactions are affected by FBT.
If you offer employees benefits that involve cars, loans, travel or entertainment, it’s essential you know if FBT applies. Read More
Shakespeare Financial Group recently had the pleasure of sponsoring and exhibiting at the Australian Veterinary Association WA Division State Conference.
The conference ran from October 19 – 21 and was held at Perth’s Crown Complex, with delegates from all areas of the WA veterinary community attending.
The event included an industry exhibition, key note speakers and gala dinner over the three day period.
Our team were on hand to chat about all things financial, including our range of veterinary industry specific accounting solutions.
Free Financial Health Checks were on offer to help vets address common financial issues specific to the industry.
With an already existing veterinary client base, Shakespeare Financial Group is in the position to be able to provide industry relevant services and advice to the veterinary community.
Attending the event of behalf of Shakespeare included Directors Leigh-Anne Meyerowitz, Stuart MacKinnon, Josh Parsons, Matthew Robertson and Peter Elkerbout, along with General Manager Tony Da Silva.
We love to go the extra mile at Shakespeare, so much so that over the years we’ve been building a wonderful network of valued clients in Broome.
This means our dedicated team of accountants get the chance to head up to Broome on a regular basis, visiting clients and of course enjoying all the incredible things the Kimberley region has to offer.
We’re also proud to announce that Shakespeare Financial Group has recently joined the Broome Chamber of Commerce and Industry.
We can’t wait to see how we can help support the wider business community through the fantastic work the BCCI undertakes and we feel privileged to be part of the network.
How a Home Loan Health Check can re-ignite your mortgage
Once upon a time, you found your dream home and the perfect loan to match, and life was good. But has the shine worn off your mortgage? Do you feel it’s all take and no give? Are you the one doing all the heavy lifting?
Don’t assume that your current home loan still ticks all the boxes and continues to fit your needs, just because it’s convenient.
Life changes constantly and it’s important to periodically review your home loan and make sure it still works for you.
So it might be time to ask yourself a couple of questions: Read More
Just in time for the silly season, we’re giving you the chance to get some R&R at Crown Towers with an overnight stay on us!
Crown Perth is the premier destination for fine dining, entertainment and five star hospitality. Enjoy an overnight stay in a Crown Towers deluxe room and experience the amazing facilities the complex has to offer. Read More